Orlando Magic and Fox Sports Florida reach 10-year local TV extension

The Orlando Magic and Fox Sports Florida have finalized a 10-year contract extension that will make Fox Sports Florida the team’s local television rights holder through the 2025-26 NBA season.

Officials from the Magic and Fox Sports Florida wouldn’t release the financial details of their agreement, but an industry source said the Magic will rank among the top quarter of NBA teams in local television revenue.

According to Nielsen, the Orlando-Daytona Beach-Melbourne market is the 18th-largest television market in the United States.

“Financially, it’s an assurance — not that any assurance was needed — that we’ll continue to invest in this franchise,” Magic CEO Alex Martins said before the Magic hosted the New Orleans Pelicans in the teams’ preseason finales Friday night.

“They’re confident that we will again contend for an NBA championship in the near future, and they wanted to make sure that they were locked-in to be a big part of that.”

The extension with Fox Sports Florida will begin with the 2016-17 season.

Magic officials never negotiated with other potential networks because they were still in their exclusive negotiating window with Fox Sports Florida. But Martins said the team considered forming its own regional sports network.

“We studied it extensively,” Martins said. “But as we continued our extension negotiations, and as we continued to study that option, it was clear that the magnitude of which Fox was willing to make a commitment to us far exceeded the risk that we would take in forming our own network.”

Making stridesFormer Winter Park High star Austin Rivers is feeling more at ease these days after he struggled for much of his rookie season with the Pelicans in 2012-13.

“I feel a lot more comfortable,” Rivers said after the Pelicans completed their shootaround. “I just don’t think as much now [on the court]. I’m not worried about making mistakes. The game has slowed down. I can finally go out there and play and have fun.

“Last year, I felt like I was out there worrying too much to do the right things. Sometimes, when you play like that, you end up doing the wrong things. I think that’s not how you play basketball. You’re going to miss shots. You’re going to make turnovers. It’s an imperfect game. It’s such a fast-paced game.”

Pelicans coach Monty Williams said he’s seen improvement in Rivers when Rivers attacks the basket, in close-game situations and on defense.

“I have to remind people that even though Austin has been on our mind since he was in the 7th grade, he’s still just [21] years old,” Williams said. “He has a ways to go, and he works his tail off.”

Raising moneyThe Magic raised about $180,000 for the Orlando Magic Youth Foundation at their annual golf tournament, which was held Thursday.

The revenue figure includes a contribution from the McCormick Foundation of 50 cents on the dollar.

Special guestDuring the season ahead, the Magic will host 25 children who have suffered from serious medical conditions or have lost a close family member.

On Friday night, the team hosted 10-year-old Caleb Dominguez and his parents. Caleb has cerebral palsy and has had a seizure disorder since he was 2 years old. The Dominguez family received courtside seats and a Magic jersey and met former Magic players Nick Anderson and Bo Outlaw.